Wellington Management Group LLP Sells 40,308 Shares of Cullen/Frost Bankers, Inc. $CFR

Key Points

• Wellington Management Group LLP has reduced its stake in Cullen/Frost Bankers, Inc. by 20.9%, selling 40,308 shares and holding approximately 152,341 shares valued at $19.07 million as of the latest filing.
• Cullen/Frost Bankers reported $2.39 earnings per share for the last quarter, exceeding expectations of $2.28, and had a net margin of 21.20% with revenues of $567.83 million.
• The bank's upcoming quarterly dividend of $1.00 will be paid out on September 15th, representing an annualized yield of 3.1% with a payout ratio of 43.06%.

Wellington Management Group LLP lowered its holdings in Cullen/Frost Bankers, Inc. (NYSE:CFR - Free Report) by 20.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,341 shares of the bank's stock after selling 40,308 shares during the period. Wellington Management Group LLP owned about 0.24% of Cullen/Frost Bankers worth $19,073,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Bayforest Capital Ltd bought a new position in Cullen/Frost Bankers in the first quarter valued at $241,000. State of Alaska Department of Revenue grew its position in Cullen/Frost Bankers by 2.9% in the first quarter. State of Alaska Department of Revenue now owns 7,524 shares of the bank's stock valued at $942,000 after purchasing an additional 210 shares in the last quarter. Victory Capital Management Inc. grew its position in Cullen/Frost Bankers by 55.9% in the first quarter. Victory Capital Management Inc. now owns 18,084 shares of the bank's stock valued at $2,264,000 after purchasing an additional 6,484 shares in the last quarter. Norden Group LLC bought a new position in Cullen/Frost Bankers in the first quarter valued at $214,000. Finally, UMB Bank n.a. grew its position in shares of Cullen/Frost Bankers by 59.6% in the 1st quarter. UMB Bank n.a. now owns 391 shares of the bank's stock valued at $49,000 after acquiring an additional 146 shares during the period. Institutional investors own 86.90% of the company's stock.

Cullen/Frost Bankers Stock Performance

Shares of CFR stock opened at $130.4640 on Tuesday. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 2.76 and a beta of 0.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.64 and a current ratio of 0.64. The company has a 50-day simple moving average of $130.26 and a 200 day simple moving average of $126.97. Cullen/Frost Bankers, Inc. has a 52 week low of $100.31 and a 52 week high of $147.64.

Cullen/Frost Bankers (NYSE:CFR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The bank reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.11. Cullen/Frost Bankers had a net margin of 21.20% and a return on equity of 15.46%. The business had revenue of $567.83 million during the quarter, compared to analysts' expectations of $552.04 million. During the same quarter in the previous year, the company earned $2.21 EPS. On average, sell-side analysts predict that Cullen/Frost Bankers, Inc. will post 8.85 earnings per share for the current year.

Cullen/Frost Bankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $1.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $4.00 annualized dividend and a yield of 3.1%. Cullen/Frost Bankers's payout ratio is 43.06%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CFR. Evercore ISI raised shares of Cullen/Frost Bankers from an "underperform" rating to an "in-line" rating and set a $132.00 price objective for the company in a research report on Friday, May 2nd. Raymond James Financial decreased their price objective on shares of Cullen/Frost Bankers from $150.00 to $145.00 and set an "outperform" rating for the company in a research report on Monday, August 4th. Royal Bank Of Canada decreased their price objective on shares of Cullen/Frost Bankers from $147.00 to $140.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Stephens lifted their price objective on shares of Cullen/Frost Bankers from $138.00 to $141.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Finally, Barclays decreased their price objective on shares of Cullen/Frost Bankers from $155.00 to $145.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Cullen/Frost Bankers presently has a consensus rating of "Reduce" and an average price target of $133.71.

Cullen/Frost Bankers Profile

Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. The company offers commercial banking services to corporations, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.